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IIM-Africa Links Economic Recovery to Reliable Data, Information Management

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(L-r): Abiola Juliana, membership coordinator, Dr. Oyedokun Oyewole, president /chairman, Governing Council, and Musa Zubairu, Registrar, all from the Institute of Information Management (IIM-Africa), during a press conference on forthcoming Public Lecture/induction ceremony held in Lagos on Monday.

The Institute of Information Management (IIM) has declared its plans to bring to the front-burner the need for information management as a tool for economic recovery and business integrity in Nigeria at this year’s public lecture/induction ceremony.

Speaking during a press conference to announce plans to honour different stakeholders in Nigeria and other parts of the world including Prof. Oluyemi Oluleke Osinbajo, vice president, Federal Republic of Nigeria, Dr. Oyedokun Oyewole, the Institute’s president/chairman Governing Council, said there can’t be a better time for this all important annual lecture than now in view of the present state of the Nigerian economy.

Dr. Oyewole, said that the need for Government to pay good attention to information management is further reinforced by the demand from Nigerians on the need for good governance and delivery on campaign promises made by the government, as the success of the new administration will critically depend on good information governance.

The Institute of Information Management (IIM) annual lecture, Induction / Investiture ceremony with the theme “Information Management as a Tool for Economic Recovery & Business Integrity in Nigeria” will hold on August 1, 2015 at the University of Lagos Main Auditorium, Akoka, Yaba, Lagos.

He said, “Government should be committed to increasing transparency and access to information, and should therefore ensure appropriate powers, resources and enforcement procedures are in place to facilitate data and information sharing amongst various government agencies. This amplifies the focus the Economy needs to have on information management when collaborating to maximize economic recovery.

“This is not about relinquishing sensitive data. In noting the importance of good data to promote foreign investments, create value, support sound government policy and promote business integrity in the Country.  Knowing what you have and where it is will be a sure-fire means to ensuring the protection of sensitive material”.

The President, IIM-Africa, added that in Nigeria today, it should already be a no-brainer that bringing good practice, standards and systematic governance to the management of data and information ought to be a national priority.

“There is need for the new government to endorse effective information management, which will ensure transparency, accountability, good governance and access to information which becomes an essential aspect of the resources and infrastructure required for economic recovery and promotion of business integrity in government and the society at large and a consequent increase in economic value.

“Government should ensure that all government agencies are held accountable for service delivery by assessing what needs to be done in preparation to make plans and decide what choices and risks that will shape those plans. The shape of such an assessment should be to establish a small task force with responsibility for developing an action plan; review the current condition of information content and supporting infrastructure in all government agencies and parastatals; and map the output from the review against best practice to identify necessary actions, because the time is now to start preparing for MAXIMUM ECONOMIC RECOVERY!”

According to him, the need to develop the Information Management industry cannot be over-emphasized, as successful nations and organizations in the future will depend on how well they enable information to be appropriately managed by professionals thereby ensuring confidentiality, integrity, completeness, and preservation of Information for better decision making and use.

Aside the Lectures, the event will also feature the conferment of the Institute of Information Management (IIM) Fellowship on individuals who have made substantial contribution to the development of the Information Management and Technology profession, its practices or the Institute  of Information Management itself and Honorary Fellows on other professionals with backgrounds outside of Information Management field but are identified as having made significant contributions that impact on the profession and the society or the Institute of Information Management.

Dignitaries expected to be honoured at the event include  HE Prof. Oluyemi Oluleke Osinbajo, (SAN), Vice President, Federal Republic of Nigeria.,  HE Mr. Akinwunmi Ambode, Executive Governor of Lagos State,  Alhaji Jani Ibrahim -Chairman/Technical Adviser Lubcon Group, Mr. Abayomi Sutton, Chief Amina Temitope Ajayi, Meic Pierce Owen, Chair – Information and Records Management Sociaty, UK, Engr Femi Okunade, Managing Director / CEO Xerox H.S (Nigeria) Limited, Rasheed Adejare Olaoluwa, Managing Director/CEO Bank of Industry Limited,  Dr. Fidelis Ayebae,  Managing Director, Fidson Healthcare Plc and Wale Tinubu – Group Chief Executive, Oando Plc.

Others are; Godwin Ogagaoghene – Assistant Corp Marshal Zonal Commanding Officer, Federal Road Safety Corps RS 2 Lagos, Oluwatoyin Sanni – Group CEO, United Capital Plc, Hanns Köhler-Krüner,  Research Vice President – Gartner, Subhasis Kesh – Chief Executive Officer , Globe Geosolution Private Limited, as well as many other MDs and CEOs of major Institutions, Information Management and Technology firms among others.

Other categories of inductees include Graduate, Associate, Professional, Senior Professional and Corporate.

The highlight of the event, will be the official Launch of the Institute of Information Management Intervention Program tagged “Data Access Intervention Initiative (DAII)”.

On what Data Access Intervention Initiative (DAII) stands to achieve, he said, “The Data Access Intervention Initiative (DAII) is a program developed by the Institute of Information Management (IIM), aimed at promoting access to information for effective service delivery in the society.

“Individuals and organisations should have access to information as at when needed, as effective data access will enable researchers, policymakers, technology developers and the public access to information, use and share knowledge for informed decisions.

“The initiative is developed to assist in identifying and perusing into the information needs of various sectors of the society, including developing solutions aimed at meeting those needs. With DAII, individuals and organisations will be able to access reliable and accurate information to meet their information needs.

DAI is ultimately expected to facilitate an industry movement to connect citizens to various services like healthcare, education, real estate etc.

The Institute of Information Management (IIM) is the premiere professional membership driven Institute in Nigeria and Africa, approved by the Federal Ministry of Education (FME) with the consent of the Attorney General of the Federation serving the emerging field of Records, Information, Archives, Data, Security, and Document Management Professionals, with partnership and affiliation with different international organizations like the Information and Records Management Society (IRMS), UK, Professional Evaluation and Certification Board (PECB), Canada, Online Business School UK,  The International Association of Privacy Professionals, The International Records Management Trust UK, Information Requirements Clearinghouse USA, Information Governance Conference USA, Tribal Group, Information Matters etc.

The Institute of Information Management is strategically positioned to help government and professionals in both public and private organizations in Nigeria and Africa to develop the required frameworks, tools and culture needed to build capacity by improving professionalism in this essential field, as required in various disciplines including finance, administration, engineering, construction, project management, procurement, IT, communications etc.

Sound policy, clear standards, competence, certification, research and effective processes are all aspects of first-class information management programs that the Institute of Information Management unique faculties has got to deliver through our various learning and professional development programs, aimed at empowering information management professionals globally.

 

 

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Nigeria, Others Listed in ISA $5Bn Deal

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International Solar Alliance (ISA) has signed letters of intent for $5 billion worth of financing and the initiation of development of nine solar projects across five countries.

 

The ISA signed the financing commitment by Yes Bank, India’s fifth largest private sector bank and leader in renewable energy financing, recently.

 

It also announced the signing of nine solar projects across five ISA member countries, including the UAE, Saudi Arabia, Nigeria, India and Spain.

 

The eight companies involved in the deals include, Vyonarc Development, Waree Engineers, Gensol Group, Solarig, Shakti Pump, Refex Energy, Amplus Solar and Zodiac Energy.

 

In another development, Masdar announced the outcomes from its Renewable Energy Desalination Pilot Programme in Ghantoot, which shows that solar energy powered desalination is commercially viable in Abu Dhabi. Masdar commissioned five pilot projects during the programme to explore the feasibility of using renewable energy to power seawater desalination.

 

The outcomes of the pilot projects revealed that solar energy-driven seawater desalination using reverse osmosis technologies offers a commercially attractive, low-cost and sustainable long-term solution for seawater desalination in the Gulf.

 

The report also revealed that energy efficiency improvements of up to 75 per cent were achieved through the programme compared with existing technologies employed in the UAE.

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Allianz Risk Barometer Says Corruption, Burden on Nigerian Businesses

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The Allianz Risk Barometer 2018 report has revealed that theft, fraud and corruption as the top risk in Nigeria with 38% of responses, up from #4 in 2017.

Market developments remains unchanged at #2 at 36% of responses and changes in legislation & regulation also remains unmoved at #3 with 33% of responses.

Fire, explosion and power blackouts (both #7 with 16% of responses) emerged as two new risks in the top 10.

Cyber incidents remains at #5 at 29%, political risks and violence is unmoved at #6 with 24%, macroeconomic developments is #4 at 31% of responses down from #1 in 2017, business interruption moves down slightly from #8 to #9 with 16% responses and new technologies maintains the 10th position at 11%. The report is published annually by Allianz Global Corporate & Specialty (AGCS), and is based on the insight of a record 1,911 risk experts from 80 countries.

Studies show that corruption is a significant obstacle to business in Nigeria. Companies are very likely to encounter bribery and other corrupt practices.

Corruption also features as a top 10 risk in West African countries, Togo and Ivory Coast, which participated in the survey for the first time.

To provide financial protection for managers against the consequences of actual or alleged “wrongful acts” when acting in the scope of their managerial duties, companies may consider taking up Director & Officers (D&O) insurance.

The D&O policy will pay for defense costs and financial losses. In addition, extensions to many D&O policies also cover costs for managers generated by administrative and criminal proceedings or in the course of investigations by regulators or criminal prosecutors.

The market and economic conditions are improving. “Recently, Nigeria resolved a six-quarter recession and an exchange rate crisis. A better business environment, as well as the recovery of oil prices should help accelerate growth in 2018 to over 2.5% from 0.8% in 2017. However, the inflation persistence to around 12.9% in 2018 may well trigger another depreciation pressure on the Naira,” said Stéphane Colliac, Senior Economist from AGCS sister company, Euler Hermes.

Businesses’ perception of the threat posed by political risks and violence remains relatively unchanged year-on-year. However, respondents are more worried about terrorism. Businesses do not have to be the direct victim to feel the effects. If an attack occurs nearby, the surrounding area may be closed, impacting operations. Globally, a general trend of increased political activism can be anticipated, causing further disruption.

Business interruption (BI) can have a tremendous effect on a company’s revenues. Yet its impact is one of the hardest risks to measure. “No business is too small to be impacted,” says AGCS Africa CEO Thusang Mahlangu, “A severe interruption can even have a terminal impact, particularly for smaller companies. But as many businesses transition from being rich in physical assets to deriving more value from intangibles and services, increasingly, BI is being triggered by non-traditional risk exposures which don’t cause physical damage but result in lost income – so-called nondamage business interruption (NDBI).”

Fire, explosion, which is a major source of BI, is a serious concern for Nigerian businesses, especially considering the many incidents that occurred in 2017. As one of the world’s largest oil and gas producers, the country is highly susceptible to accidental fires that may interrupt power supplies. It is a known fact that power blackouts are prominent in the region. In fact, in a recent outage across the country, the ministry of power blamed it on a fire at a gas pipeline system that interrupted gas supply and affected the national transmission grid. Local businesses should ensure they have a sufficient backup or risk management plan for the production halt.

Cyber incidents through events such as WannaCry and Petya ransomware attacks brought significant financial losses to a large number of businesses. Cyber threats also vary according to company size or industry. “Small companies are likely to be crippled if hit with a ransomware attack, while larger firms are targets of a greater range of threats, such as the DDoS attacks which can overwhelm systems,” says AGCS Cyber Insurance Expert Nobuhle Nkosi.

New technologies rank as the second top risk for the long-term future after cyber incidents globally, with which it is closely interlinked. Vulnerability of automated or even autonomous or self-learning machines to failure or malicious cyber acts, such as extortion or espionage, will increase in future and could have a significant impact if critical infrastructure, such as IT networks or power supply, are involved.

“Although there may be fewer smaller losses due to automation and monitoring minimizing the human error factor, this may be replaced by the potential for large-scale losses, once an incident happens,” explains Michael Bruch, Head of Emerging Trends, AGCS. “Businesses also have to prepare for new risks and liabilities as responsibilities shift from human to machine, and therefore to the manufacturer or software supplier. Assignment and coverage of liability will become much more challenging in future.”

 

 

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Group Tackles Mobil over $600m Oil Bloc

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A non-governmental organisation, the Human and Environmental Development Agenda (HEDA Resource Centre), has requested for clarification on the renewal of some oil mining leases in possession of Mobil Producing Nigeria.

 

In a Freedom of Information (FOI) request issued to the Managing Director, Mobil Producing Nigeria Unlimited, dated. 2nd January, 2018 and signed by HEDA’s chairman, Mr. Olanrewaju Suraju, the organisation said it is seeking inquiry for the Forensic Audit report regarding the renewal of three Oil Mining Leases (OMLs 67, 68 and 70) for Mobil Producing Nigeria for $600 million.

 

According to HEDA, the renewal of three Oil Mining Leases (OMLs 67, 68 & 70) for Mobil Producing Nigeria Unlimited (MPN) by the Federal Government was widely reported in the newspapers in Nigeria and abroad. The organisation, however, said the details of the terms of the renewed leases were not disclosed to the press, thereby causing so much controversies as to the circumstances surrounding the payment and the amount paid.

 

It would be recalled that based on the valuation conducted by the Ministry of Petroleum Resources, MPN and the Nigeria National Petroleum Corporation (NNPC) as equity holders, were required to pay $6.375 billion as 100% of the reserve fee. Mobil’s 40% share in the lease was fixed at $2.55 billion, of which there would be a commitment to invest the sum of $1.2 billion in a refinery and gas infrastructure for the domestic market.

 

According to HEDA, “Reports in the public domain and some documents sighted by this organisation, Mobil rejected the said terms and allegedly paid $600 million for the renewal of the three oil blocks which have a combined output of 580,000 barrels of crude oil per day. Curiously, the payment was accepted by the then Minister of State in the Ministry of Petroleum Resources, Mr. Odein Ajumogobia, who purportedly signed the deal.

 

“However, the predecessor of the erstwhile Minister of Petroleum Resources had refused to endorse this transaction, accusing MPN of undervaluing the oil block. The said leases were however, renewed for 20 years by the erstwhile Minister of Petroleum Resources on behalf of the Government of the Federation.

 

“You will recall the successor of Mr. Ajumogobia in the Ministry of Petroleum Resources, Mrs. Diezani Alison-Madueke, rejected the terms for the renewal of this licenses, resulting in a fresh negotiation leading to additional payment by your company for the block.”

 

HEDA said in the light of the foregoing, and in view of the demand of the Nigerian people for the transparent management of the oil and gas industry, “We would appreciate your company furnishing us with details of the renewal and the total amount paid by Exxon Mobil for these licenses. More so, when a Chinese company had offered to pay the difference of $3.75 billion for 40% equity interest in the NNPC-Mobil Joint Venture or $18.75 billion for 100% equity interest in oil and gas reserves at the time of this renewal.

 

“HEDA Resource Centre is hereby requesting, in accordance with Section 1(1) of the FoI Act 2011, for information on the payments and conditions attached to the renewal.

 

“Section 1(1) ‘Notwithstanding anything contained in any other Act, law or regulation, the right of any person to access or request information, whether or not contained in any written form, which is in the custody or possession of any public official, agency or institution however described, is established’.

 

“Section 2(7) ‘Public institutions are all authorities whether executive, legislative or judicial agencies, ministries, and extra-ministerial departments of the government, together with all corporations established by law and ALL COMPANIES IN WHICH GOVERNMENT HAS A CONTROLLING INTEREST and PRIVATE COMPANIES UTILIZING PUBLIC FUNDS, PROVIDING PUBLIC SERVICES OR PERFORMING PUBLIC FUNCTIONS’.

 

“Mobil Producing Nigeria Unlimited operates a Joint Venture with the Federal Government of Nigeria, through the Nigerian National Petroleum Corporation (NNPC). The Federal Government has controlling 60 percent share, with the remaining 40 percent being MPN.

 

“As an internationally reputed firm with integrity in standard and discipline, we shall look forward to receiving this report promptly, and in any event, within 7(seven) days after this application is received, as provided for in Section 4 and 4a of the FoI Act 2011,” HEDA said.

 

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